Location: Greenville-Mauldin-Easley, SC | Metro: Anderson, SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The ZIP code 29630 in Central, SC presents a unique balance between yield and stability that could be appealing to both high-yield seekers and those looking for steady cash flow.
On the yield axis, the Federal Market Rent (FMR) of $990 for fiscal year 2024 is notably lower than the market rent of $1,351. This discrepancy suggests a potential opportunity for landlords to secure higher-than-average rental income compared to the FMR, making it a favorable area for high-yield investments. However, the median home value of $293,627 indicates a significant upfront cost for property acquisition, which landlords must consider against their expected returns.
Moving to the stability axis, the ZIP code boasts a substantial 53.5% of residents as renters, indicating a robust demand for rental properties. Although the average days on market (DOM) data is not available, the median household income of $55,264 provides insight into the economic stability of the area. This income level suggests that tenants can afford to pay rent, reducing the risk of default and ensuring a stable cash flow.
To classify the market, we observe that the high market rent relative to the FMR points towards a high-yield environment. Yet, the strong rental demand and moderate household income suggest a degree of stability. Therefore, 29630 is best described as a market offering a blend of high yield and reasonable stability, suitable for investors who can manage the risks associated with potentially higher vacancy rates or maintenance costs. It is not a pure flip-style market due to the lack of extreme volatility, but it leans more towards providing opportunities for above-average returns while maintaining a relatively solid tenant base.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.